Today in Crypto: Fidelity Files Metaverse Trademark Applications, Defrost Finance to Refund Users Post-Hack, Argo Blockchain Suspends Nasdaq Trading

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Metaverse news

US asset manager Fidelity has filed three trademark applications in the US to provide services in the metaverse and other virtual worlds. They also mention non-fungible tokens (NFTs), NFT marketplaces, virtual real estate investing, crypto trading, and metaverse investment services.

Security news

Decentralized finance protocol Defrost Finance, which was hacked on December 23, said that, as all V1 hacked funds had been returned, the team would “soon start the process of refunding these assets to the rightful owners prior to the attack.” In the following days, a refunding smart contract will be deployed, and owners will be able to claim their assets back in stablecoins.

Investment news

Crypto mining company Argo Blockchain said it had requested a suspension of trading for its ADSs and unsecured notes traded on the Nasdaq Global Select Market as the London Stock Exchange is closed for trading on 27 December. The company expects that trading on Nasdaq will resume on 28 December, said the press release.

said it had requested a suspension of trading for its ADSs and unsecured notes traded on the as the is closed for trading on 27 December. The company expects that trading on Nasdaq will resume on 28 December, said the press release. Striga, a builder of infrastructure for digital assets and financial services, announced crypto on-ramp and off-ramp application programming interfaces (APIs), which they said make it easier to hold or cash out cryptocurrencies to various products including neobanks, marketplace, Web3 apps, and decentralized finance (DeFi) projects. “The company’s new fiat-to-crypto or crypto-to-fiat can be embedded in any crypto or fintech product so that users can buy and sell crypto easily,” said a press release.

Regulation news

The Securities and Exchanges Commission (SEC) of the Philippines issued an advisory to the public against using unregistered crypto exchanges operating within the country. While it did not mention FTX by name, it said that, “considering the recent collapse of a large international cryptocurrency exchange, the [SEC] strongly warns and advises the public against transacting with unregistered and unlicensed cryptocurrency exchanges reachable and deemed operating in the Philippines. The collapse left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money.”

Adoption news

The Latin America, Middle East, and Africa Web3 Blockchain Market should witness market growth of 42.1% compound annual growth rate (CAGR) during the forecast period (2022-2028), said a ResearchAndMarkets.com report. The Brazil market dominated the LAMEA Web3 Blockchain Market by Country in 2021, and would continue to be a dominant market till 2028, thereby achieving a market value of $206.3 million by 2028. The Argentina market is showcasing a CAGR of 42.9% during 2022-2028, while the UAE market would register a CAGR of 41.7% in that period.

Career news